Chancellor Healey to Unveil Autumn Budget with Major Tax and Spending Plans
The Autumn Budget will be presented on October 28 by Chancellor John Healey, marking the first budget under Prime Minister Andy Burnham and outlining the government's fiscal priorities.
On October 28, Chancellor John Healey will present the Autumn Budget, the inaugural one for Prime Minister Andy Burnham's administration, delivering his remarks in the House of Commons after Prime Minister's Questions. The budget aims to clarify Labour's economic priorities and demonstrate a commitment to fiscal discipline for businesses and households. So far, the government has announced adjustments to the state pension triple lock from April 2030, a "Your First Home" equity loan scheme for first-time buyers, and a VAT exemption on domestic energy bills starting October 1.
Potential tax moves under discussion include higher levies on banks, increased charges on high earners, and broader property taxes, though none are confirmed. Additional topics that may surface are changes to inheritance tax, a possible land-value tax, and further defence spending, all set against higher inflation forecasts cited by the Institute for Fiscal Studies.
Why it matters
The budget will shape tax policy and public spending, affecting households, businesses, and the UK's economic direction.
How this story developed
- Oct 18 Rural councils urge Chancellor John Healey to address £19bn growth gap in upcoming Budget
- Oct 23 Antonia Medlicott’s budgeting and tax guidance has entered the discussion ahead of the Budget.
- Oct 25 Healey scheduled an early budget for 28 October that is expected to include a £70 billion borrowing increase and a mix of tax and spending measures.
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